fell o; the list, even though its portfolio remained ;at. It was upstaged by
newcomers, including GreatLife Golf &
Fitness and Brown Golf Management.
Trump Golf and Hampton Golf both
returned to the list.

ClubCorp gives Troon
a run for its money

ClubCorp leads the way in golf course acquisitions, pushing three companies down the
list, but Troon retains the title of largest management company in the world.

BY LAIRA MARTIN

t was another active year for man-agement companies and golf courseoperators, with 18 of the 25 largestincreasing the size of their portfo-lios. ;e 25 largest operators now man-age 1,927 courses, up from 1,481.5 in2010. Each of the 25 companies on thisyear’s list manages more than 25 18-hole-equivalent courses. In 2010, there wereonly 16 companies at that threshold.ClubCorp made the biggest splashwith the acquisition of 58 courses inthree portfolio deals during the past
12 months. ;e deals were valued atmore than $300 million and includedthe acquisition of Sequoia Golf, lastyear’s12th largest management company.

Still, the Dallas-based club owner and
operator is a distant second to Troon,
which increased its portfolio from 207
18-hole-equivalent courses to 232. It was
one of Troon’s biggest years for growth,
fueled by funding from its new ;nancial
backer, Kohlberg & Co.

A total of 14 companies on last year’s
list grew in size, with only six shrinking. Fore Golf Services fell o; the list,
dropping from 39 courses to 14. It lost
22 leased courses in October when the
owner, CNL Lifestyle Properties, sold
the portfolio to Arcis Equity Partners.
Arcis turned to Eagle Golf to manage the
courses and invested in the Texas-based
company, helping that company to grow
further.

Traditional Golf Management also
LARGEST MANAGEMENT COMPANIES
25

TPC MICHIGAN was one of two Tournament Players Clubs, along
with TPC Piper Glen, acquired by ClubCorp this year. Eric Affeldt,
CEO at ClubCorp, leads the owner/operator which gained ground
on Troon Golf, led by CEO Dana Garmany.